Here are some Benefits to the Reverse Mortgage:
- You can pay off your mortgage.
- You can have tax free income.
- You will continue to own your home.
- You or your heirs will keep all remaining equity.
- You will never make monthly mortgage payments. (You can receive them instead.)
- There are no up-front fees collected.
- It won’t affect Social Security or Medicare Benefits.
- There are no restrictions on how you spend the money.
- Your cash is distributed to suit your needs and lifestyle.
- Most loans are government insured.
- You can repay at anytime with no pre-payment penalty.
- You will never have to repay more than your home’s value.
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